"Watch Out, We're Mad" begins by narrating that classic story in a display of comic art. In the story, two friends enter a car race to win a dune buggy. But the problem arises when it becomes impossible to share the dune buggy. So the competition began between the friends to eat sausages and beer. But before the result, a goon came and set fire to their red dune buggy. In a fit of rage, the two friends get mad and beat the goon off, forcing their leader to buy dune buggies for each of them. But eventually, one of them caught fire again, leaving another dune buggy on which the two friends continued to fight.The scene shifts to another story where those two friends' sons, Carezza (Edoardo Pesce) and Sorriso (Alessandro Roja), playfully run away with the red dune buggy of their fathers, but are blocked by a group of bad guys who offer to gamble. Despite Carezza's disapproval, Sorriso agrees but ultimately loses. As a result, the bad boys escape with the dune buggy as per the terms of the gamble. This time the time-line shifts to the present, where Carezza and Sorriso have grown up. Carezza lives with his dog, Geremia. He is a mechanic.At a circus, we are introduced to a female ringmaster named Miriam (Alessandra Mastronardi). But immediately, a group of goons named Cobras, who belong to a notorious businessman named Torsillo (Christian De Sica), arrive at the circus (where Carezza was fixing Miriam's car). But Carezza isn't afraid of them, as even with a strong slap of his hand, Scajone (Massimiliano Rossi), the leader of the Cobras, fails to turn Carezza's head. Torsillo has his eye on Miriam's circus grounds, where he wants to establish his Torsillo Tower, but Miriam is a tough player to give it to him. While at Miriam's Carezza had seen the flier for a local race that had a dune buggy as the first prize. Carezza leaves the circus grounds. Then comes the grown-up Sorriso, who is still angry about the disappearance of the old dune buggy and has seen the same flier for the race as Carezza. Sorriso approaches Carezza at his garage. But Carezza refuses to work with Sorriso. They want to settle the case again by naming them in the competition like their predecessors. Torsillo's son, Raniero (Francesco Bruni), who lacks diplomatic intelligence and common sense like his father, is named in the competition as well. Unfortunately, he doesn't even reach the halfway point of the race due to his own failure. On the contrary, Carezza and Sorriso repeat history by reaching the dune buggy together. So both are declared winners.The decision of who will be the owner of the dune buggy is still a doubtful decision to them, so they try to pick the actual winner of the dune buggy through the old-fashioned beer and sausage competition, but the Cobras steal their dune buggy (on behalf of Torsillo and Raniero) while Carezza and Sorriso are busy shoving their mouths with sausages. Miriam arrives at the tavern and wants Carezza to help her defend the circus, but Carezza is not interested. Sorriso tries his best to form a love angle with Miriam, but she is not interested. Carezzo and Sorriso suspect Miriam for stealing their dune buggy. but after a lot of heckling (Including a slapping contest with Miriam's cousin Armandino (Michael Schermi)), Miriam tells him that their dune buggy is with Torsillo, but as a cost of that, she demands that when Sorriso approaches Torsillo, he will have to threaten him to take his eyes off the circus grounds. Carezza and Sorriso muster their courage to reach Torsillo and threaten him to return their dune buggy, but not having planned, they can't tell if they can do any harm to Torsillo. Torsillo promises to return the buggy by the next day, if they leave the meeting with his investors. On his return, Sorriso pulls up the model of Torsillo Tower & takes it away with him, saying that Torsillo has to get his eyes off the land of the circus. Torsillo thinks he can answer it differently.Torsillo arrives at Carezza's place to prank them with a small toy model of the dune buggy. Carezza and Sorriso knew they wouldn't get their car back so easily, so after Torsillo's departure, they beat the Cobra gang, breaking all the bones in their bodies. Raniero wants to return the buggy to the guys, but Torsillo tells Raniero to be mean and never blink in a fight. Raniero is not convinced but decides to be mean, to impress his father. While Carezza and Sorriso are watching Miriam's circus performance, Torsillo's son Raniero arrives with the dune buggy. When Carezza comes running in joy to see his car, Raniero sets fire to the yellow roof of the dune buggy, causing the entire circus to burn. Carezza rescues his dog Geremia, and Sorriso runs to save Miriam. But Miriam learns from her brother that their circus tiger has escaped. Together, Miriam Sorriso and Carezza plan to make Torsillo's end.The next day, when Torsillo throws a party with his business clients, Carezza walks in as a musician and catches Scajone's eye. while Torsillo's enlarged and more powerful Cobra gang attacks them, Carezza and Sorriso, along with the circus men, beat the gangsters of the Cobra gang and make their situation worse. When Miriam finally blocks Torsillo's way after a violent riot, he points a gun at Miriam. But she survives when her escaped circus tiger pounces on Torsillo. Carezza and Sorriso get their dune buggies back. But the fight for rights over it continues, so Sorriso and Cariza go back to the restaurant for a beer and sausage competition. But while they are both busy eating, Miriam escapes with the dune buggy again.We also saw before Miriam came to disrupt Carezza and Sorriso's sausage competition, right before their dune buggy was stolen in the first place. However, it is quite possible that Miriam stole the dune buggy and left it near Torsillo so that Sorriso and Carezza take their revenge and Miriam gets her land back. It could be a possibility that Miriam is sketching a new plan, but what is that? However, "Watch Out, We're Mad" ends here with her plan remaining a secret.